Last $30.51 USD
Change Today -0.07 / -0.23%
Volume 688.9K
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As of 5:15 PM 11/28/14 All times are local (Market data is delayed by at least 15 minutes).

wolverine world wide inc (WWW) Key Developments

Wolverine World Wide Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 6, 2014; Reaffirms Earnings Guidance for the Full Year of 2014

Wolverine World Wide Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 6, 2014. For the quarter, the company reported revenue of $711.1 million against $716.6 million a year ago. Operating profit was $87.6 million against $86.3 million a year ago. Earnings before income taxes were $77.9 million against $73.4 million a year ago. Net earnings attributable to the company were $57.8 million or $0.57 per diluted share against $54.4 million or $0.54 per diluted share a year ago. Net debt was $865.1 million as at September 6, 2014. Net cash provided by operating activities was $49.1 million against $114.7 million a year ago. Adjusted diluted earnings per share increased 8.6% to $0.63, compared to an adjusted $0.58 per share in the prior year. For the nine months, the company reported revenue of $1,952.2 million against $1,950.3 million a year ago. Operating profit was $200.3 million against $174.3 million a year ago. Earnings before income taxes were $168.4 million against $135.0 million a year ago. Net earnings attributable to the company were $122.4 million or $1.20 per diluted share against $102.1 million or $1.02 per diluted share a year ago. Net cash provided by operating activities was $114.7 million against $125.4 million a year ago. Additions to property, plant and equipment was $21.4 million against $29.2 million a year ago. The company announced based on third-quarter results and expectations for the balance of the year, the company is adjusting its outlook for full-year consolidated revenue to approximately $2.745 billion, representing growth of approximately 2% compared to the prior year's revenue of $2.69 billion. The company is reaffirming its adjusted diluted earnings per share estimate in the range of $1.57 to $1.63 growth of 10% to 14% compared to the prior year's adjusted diluted earnings per share of $1.43. On a reported basis, diluted earnings per share are expected in the range of $1.32 to $1.38. The company now expects full year gross margin to be essentially flat with the prior year, due to lower revenue from the higher gross margin consumer direct channel. Capital expenditures are now expected in the range of $35 million to $40 million.

Wolverine Worldwide Appoints Roxane Divol to Board of Directors

Wolverine Worldwide announced the appointment of Roxane Divol to the company's Board of Directors. Ms. Divol, 42, is the Senior Vice President of Alliances for Symantec Corporation. Prior to joining Symantec, Ms. Divol was a partner in the San Francisco office of McKinsey & Company.

Wolverine Worldwide Appoints Melissa A. Howell as Senior Vice President of Global Human Resources

Wolverine Worldwide announced the appointment of Melissa A. Howell to the position of Senior Vice President of Global Human Resources. Ms. Howell will report directly to Blake Krueger, Wolverine Worldwide's Chairman, Chief Executive Officer and President. Ms. Howell has more than 24 years of experience in human resource management with General Motors Company. Ms. Howell most recently served as Senior Vice President of Global Human Resources and also held numerous other human resource leadership roles during her time with the company.

Wolverine World Wide Inc., Q3 2014 Earnings Call, Oct 14, 2014

Wolverine World Wide Inc., Q3 2014 Earnings Call, Oct 14, 2014

Wolverine World Wide Inc. to Report Q3, 2014 Results on Oct 14, 2014

Wolverine World Wide Inc. announced that they will report Q3, 2014 results at 9:00 AM, Eastern Standard Time on Oct 14, 2014

 

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